Deal sees social landlord offload care home
The George Hythe House Care Home and the adjoining Holmfield Dementia Day Centre in Leicester, has been sold in a deal brokered by NGA Care on behalf of Nottingham Community Housing Association (NCHA).
The care home is rated “Good” by the CQC and provides residential care for the elderly for up to 43 residents in a popular area in Leicester.
NCHA is a social landlord and care provider across the East Midlands. After a strategic review, it was decided that the provision of older person’s registered care homes is not a future priority for NCHA.
A spokesperson for NCHA said: “We couldn’t have identified the right operator to purchase George Hythe House and Holmfield Day Centre without the expertise and contacts at NGA Care. Their support was essential to navigate our way through the sales process”.
Nick Greaves, managing director at NGA Care, who handled the sale, added: “The quality of the care home asset and the provision of care that the staff are providing is second to none, so I had to identify suitable buyers who could safeguard the financial future of the business. I am pleased to have sold the business to regional operators S5 Care, who have recognised the brilliant opportunity and potential George Hythe House and Holmfield has to offer.”
Mr Raja, director at S5 Care, said: “We are determined to make sure that the business becomes financially sustainable and stable in the near future, whilst maintaining the very best standards of care.”
He added: “NGA care has been extremely helpful and professional from start to finish. Their communication and level of expertise assisted both sides to complete the deal smoothly.”
James Rutter, relationship director at Barclays, said: “We are really pleased to support S5 Care Ltd with their latest acquisition, George Hythe House looks a really good fit for their growing portfolio of homes.”
James Clamp and Hannah Westcott of Freeths represented NCHA and Roger Harcourt and Kate Hall of Shakespeare Martineau acted for S5 Care.
